Arena Group prelim 2022 rev $217-220M, +15-16% YoY; reaffirms 2023 guidance; AI deals

Arena Group Holdings, Inc.

2023-FY EPS reported -$4.02 revenue$13,253,000

Preliminary 2022 revenue $217-220M (+15-16% YoY); digital ad revenue up >70%.
Net loss from continuing ops $68-72M, improvement of $18-22M from 2021; non-cash charges majority.
Adjusted EBITDA from continuing ops >$3M vs loss of $12M in 2021.
Reaffirmed 2023 guidance: revenue $255-270M, Adjusted EBITDA $30-35M.
Announced strategic partnerships with two AI firms; productivity gains from AI pilots.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Arena Group Holdings, Inc. reported for the year ended December 31, 2022 results: revenue between $217 million and $220 million, net income net loss from continuing operations of between $68 million and $72 million.

Period: for the year ended December 31, 2022
Revenue: between $217 million and $220 million
Net income: net loss from continuing operations of between $68 million and $72 million
Result: preliminary results

Exact text from the filing

Management expects fiscal year 2022 revenue from continuing operations* of between $217 million and $220 million, an increase of between $28 million and $31 million or 15% to 16% compared to the 2021 fiscal year, driven by a more than 70% increase in digital advertising revenue. ● Management expects fiscal year 2022 net loss from continuing operations of between $68 million and $72 million, an improvement of between $18 million and $22 million compared to the 2021 fiscal year.

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Source: SEC EDGAR

accession 0001493152-23-003469

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